Bankruptcy affects your income, employment and business, so what if we could know well in advance if a business is going bankrupt? There are many financial models available for prediction of corporate bankruptcy and among these Altman Z-score and Zmijewski are two popular models even today despite being developed decades ago. These models have gained importance because of the increasing bankruptcy filings. The present study aims to know the accuracy of these two models in Indian context by using the financial data of kingfisher airlines, which will be compared with the other airline company i.e. Indigo. We know that Kingfisher airlines does not exist anymore and Indigo is a leading airline company in Indian aviation sector. The study will use the financial data of one bankrupt company (Kingfisher) and one non bankrupt company (Indigo) to know the applicability of these two popular models in Indian context. The study aims at knowing the accuracy of these two models in predicting bankruptcy.